Courtesy of Benzinga.
Enbridge (NYSE: ENB) and First Solar, Inc. (NASDAQ: FSLR) announced today that Enbridge has acquired a 100 per cent interest in the 50-megawatt Silver State North photovoltaic project that First Solar has developed and constructed in Clark County, Nevada, near the community of Primm. Terms of the transaction were not disclosed.
“Silver State North marks Enbridge’s entry into the U.S. solar energy market and demonstrates Enbridge’s continuing commitment to growing its green energy business, while delivering attractive returns and stable cash flows,” said Don Thompson, Vice President, Green Energy, Enbridge Inc. “The U.S. solar market presents significant growth opportunities given the excellent solar resource, supportive regulatory environment and expanding portfolio of solar energy projects.”
Located 40 miles south of Las Vegas, Nevada, Silver State North was constructed under a fixed-price engineering, procurement and construction agreement with First Solar, and is expected to begin commercial operation by May 2012. First Solar will provide operations and maintenance services to Enbridge under a long-term contract. NV Energy will purchase the energy output under a 25-year power purchase agreement (PPA) approved in 2010 by the Public Utilities Commission of Nevada.
For more Benzinga, visit Benzinga Professional Service, Value Investor, and Stocks Under $5.
